Complex Made Simple

Bank lending to Saudi private sector up 13.8%

According to data released by the Saudi Arabian Monetary Agency (SAMA), the kingdom’s M3 money supply growth rebounded to 13.5% year-on-year in November from a 14-month low of 10.4% in October, Reuters has reported. Growth in bank lending to the private sector accelerated to 13.8% from 13.5%, while the central bank’s net foreign assets hit a record high of SR2.676trn ($713bn) in November, the data showed.